The price of polkadot broke through a key resistance level as things ramp up in advance of the parachain auctions, which is basically just projects vying for the right to launch on polkadot as there will be limited slots.
Price Breakout...
Looking at the daily chart above you can see the supply/resistance area marked by the purple box.
The 29 area had several reversal bottoms back in April and May before breaking down at which point that area become resistance as evidence by the failed attempt to break it in June and in mid August.
Then this price pump came and it pushed not only past 29, but above 31 which represented the high side of the supply area (as there was plenty of price action spikes there).
Now upside potential is near 40 and then the all time highs. Price is extended from the 10 day moving average at the moment so a little consolidation would not be the worst thing before further gains.
Either way, positive price breakout for DOT.
Posted Using LeoFinance Beta